Busy MPC Container Ships sells six ships

Busy Oslo-listed MPC Container Ships has sold six ships ranging in size from 1,000 to 1,500 teu for a total of $135m. MPC has not revealed who the buyers of the vessels are.

The company has also agreed a new bank facility of $180m whole also concluding seven additional multi-year charter fixtures in today’s red-hot container shipping market.

“Following our strategy of prudent and rational capital allocation, these measures are important steps for MPCC to transition from a growth phase to a very strong value proposition of significant cash generation, good earnings visibility with strong dividend capacity and a low risk profile,” CEO Constantin Baack said.

MPC’s total fleet will consist of 68 vessels once the six vessels have been handed over to their new owners.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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